The European Central Bank is considering emergency measures to rein in spiraling borrowing costs in the economic bloc. Its Governing Council is holding an unscheduled meeting today as a measure known as Europe's fear gauge hit its highest level since early 2020. The difference between Italian and German bond yields, a measure also widely watched among investors, has widened the most since early 2020, with the yield on the 10-year Italian government bond crossing the 4% mark. Craig Erlam, who is OANDA senior market analyst joined us from London. #ECB #BondYields #InterestRates